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Reinsurance News
7th November 2019
Italian insurance giant Generali has posted 16.6% growth in net income over the first nine months of 2019, with improvements across all business segments. Net profit stood at €2.16 billion at September 30, although this figure was inflated by a one-off gain of €475 million from asset sales and a €188 ... Read the full article
19th September 2019
The US branch of Italian insurance giant Generali has announced the launch of a new specialty insurance division that will focus on providing warranty services and solutions. The new division will provide both insurance and obligor services for warranty programs worldwide and partner with consumer retailers and dealers, third party administrators, ... Read the full article
1st August 2019
Italian insurance giant Generali has reported that its operating result grew by 7.6% to €2.7 billion during the first half of 2019, driven by positive developments across all of its business segments. Operating results improved from €2.5 billion in H1 2018, while net profit also rose 6.4% to €1.3 billion this ... Read the full article
19th July 2019
Generali has expanded its presence in Portugal with the acquisition of a local insurance company and service platform from Apollo Global Management, in a deal valued at €600 million. Under the agreement, Generali will acquire 100% of Seguradoras Unidas for €510 million and AdvanceCare for €90 million. Seguradoras Unidas is the second ... Read the full article
19th July 2019
Generali Global Corporate & Commercial (GC&C), a subsidiary of the Italian insurance giant, has announced the promotion of Dawood Yeung to Head of Engineering Underwriting for GC&C Asia. Effective from June 1, Yeung is responsible for overseeing GC&C’s Engineering business across the regional market. He has over 19 years of international experience ... Read the full article
5th June 2019
With its €540 million acquisition having been completed in January, Generali Belgium S.A. has officially been re-named Athora Belgium S.A. The name change represents the final stage in the purchase of Generali Belgium by Athora Holding, first announced in April 2018. Officially, Generali Belgium has been part of Athora since 2 January ... Read the full article
24th May 2019
Italian insurer Generali has entered into an agreement with Reinsurance Group of America (RGA) for the sale of the life run-off portfolio of its UK branch. As part of the transaction, Generali has signed a reinsurance contract that will cover all claims payments arising from most of the legacy business, with ... Read the full article
23rd May 2019
Italian insurance giant Generali Group has elected its General Manager Frédéric de Courtois as Vice President of Insurance Europe, the European insurance and reinsurance federation. Courtois, who has been elected to serve for a three-year term, began his career in the insurance sector in 1993, holding several management positions in various ... Read the full article
9th May 2019
Assicurazioni Generali S.p.A. has announced the election of 13 members of its Board of Directors following its recent shareholders meeting. Shareholders also approved the financial statements for the year 2018, which closed with a net profit of €1,473 million, and announced the distribution to the shareholders of a dividend of €0.90 ... Read the full article
23rd April 2019
Generali Insurance Asset Management S.p.A. Società di gestione del risparmio (GIAM), a division of the Italian insurance giant, has appointed Francesco Martorana as Chief Executive Officer. Martorana replaces Santo Borsellino, who becomes Chairman of the Board of GIAM as well as Head of Generali’s asset and wealth management business unit Martorana also ... Read the full article
16th April 2019
Professional services firm Accenture and Generali Employee Benefits (GEB) have announced a blockchain-powered solution aimed at enabling participants in the reinsurance process for captive or pooling services to access the same data and reduce processing errors via smart contracts and automated reconciliation. The solution is expected to streamline GEB’s employee benefit ... Read the full article
1st March 2019
Italian insurance giant Assicurazioni Generali SpA has completed the sale of its entire holdings in Generali Worldwide Insurance Company Limited and Generali Link to Life Company Consolidation Group (LCCG). Originally announced in July 2018, the transactions form part of Generali Group’s strategy to improve its operational efficiency, while improving capital allocation ... Read the full article
2nd January 2019
Athora Holding, together with its' Athora subsidiaries, has completed the acquisition of Generali’s Belgian business, for a cash consideration of approximately €540 million ($613 million). Primarily focused on the life segment, Generali Belgium is the 11th largest insurer in Belgium and serves around 420,000 customers through a team of 430 members ... Read the full article
2nd January 2019
Italian insurance giant Generali has finalised its previously announced plans to increase its stakes in Future Generali insurance joint ventures in India from 25.5% to 49%. The completion of the transaction saw Generali commit approximately €120 million to the Future Group, a platform and customer ecosystem that offers digital insurance ... Read the full article
20th December 2018
Italian insurance giant Generali has received regulatory approval for the non-life legacy portfolio transfer of its UK branch to independent re/insurance legacy specialist Compre. The transaction, which was signed last December and also included the non-life run-off portfolio of Generali’s U.S branch, was structured as an upfront reinsurance solution by ... Read the full article
